CHANDLER, AZ-Intel Corp.’s plan to build a new $5 billion chip manufacturing facility here will add jobs, along with driving absorption and increasing occupancy in the industrial and flex sectors as suppliers and vendors move closer to the plant.

The new Arizona factory, dubbed Fab 42, will be the most advanced, high-volume semiconductor manufacturing facility in the world, according to Intel. Construction of the new facility, which will be located adjacent to the company’s existing Ocotillo campus, is expected to begin this year and is expected to be completed in 2013.

Intel says the new facility will create thousands of jobs including construction jobs and fabrication personnel. Local experts speculate it will add as many as 4,000 jobs to the Phoenix metro area.